SECTIONS 13470-13474

13470.  Whenever there is in the treasury to the credit of theUnclaimed Property Fund the sum of twenty thousand dollars ($20,000)or more, the Director of Finance shall invest all but ten thousanddollars ($10,000) in the bonds specified in this article. Noinvestment shall be made which will reduce the uninvested portion ofthe fund below the amount of ten thousand dollars ($10,000), andwhenever a demand presented against the fund will reduce the amountof cash therein below ten thousand dollars ($10,000), the directorshall sell such bonds belonging to the fund as he deems proper, so asto restore the cash retention of ten thousand dollars ($10,000).13472.  Investments under this article may be made in bonds of thisState, of the United States, or of any county, permanent roaddistrict, city, school district, metropolitan water district, ormunicipal utility district of this State. Investment of school landproceeds may also be made in bonds of irrigation districts of thisState.13473.  The investments shall be made in such manner and on suchterms as the director deems best for such fund.13474.  All bonds purchased under this article shall be delivered tothe Treasurer, who shall credit the interest to the State SchoolFund, when collected.